Statistics Canada reported on Tuesday the New Housing Price Index (NHPI) edged up 0.1 percent m-o-m in June, the same pace as in the previous month.

Economists had forecast the NHPI to increase 0.1 percent m-o-m in June.

According to the report, new home prices showed little or no change in 17 out of the 27 census metropolitan areas (CMAs) surveyed in June. Meanwhile, St. Catharines-Niagara (+1.0 percent m-o-m) reported the largest increase in new home prices in June in response to good market conditions in the region, followed by Kitchener-Cambridge-Waterloo (+0.7 percent m-o-m) and Guelph (+0.5 percent m-o-m).

On the contrary, new house prices dropped the most in Regina (-0.5 percent m-o-m) and Edmonton (-0.2 percent m-o-m) as buyers negotiated lower selling prices.

In y-o-y terms, NHPI rose 1.3 percent in June, following a 1.1 percent gain in the previous month.